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Intel Corp (NASDAQ:INTC), a ten percent owner of Mobileye Global Inc (NASDAQ:MBLY), sold 63,731,985 shares of Class A Common Stock on July 11, 2025, according to a Form 4 filing. The sales were executed at a price of $16.0463 per share, resulting in a total transaction value of $1,022,662,550. The transaction comes as Mobileye’s stock has fallen 11% in the past week, though InvestingPro analysis suggests the stock is currently undervalued.
The filing also indicated that 113,731,985 shares of Class A Common Stock were acquired through the conversion of Class B Common Stock.
Following these transactions, Intel Overseas Funding Corporation, a subsidiary of Intel Corporation, indirectly holds 50,000,000 shares of Mobileye Global Inc.
In other recent news, Mobileye’s second-quarter results have garnered significant attention. The company announced a secondary public offering priced at $16.50 per share, involving 50 million shares of its Class A common stock sold by Intel Overseas Funding Corporation. Mobileye has also agreed to repurchase approximately 6.23 million shares from the selling stockholder at the same price. Analysts have been active in response to these developments, with Loop Capital raising its price target to $24, citing a positive growth profile, while maintaining a Buy rating. TD Cowen also increased its price target to $22, highlighting better-than-expected inventory dynamics. Conversely, BofA Securities lowered its price target to $18, maintaining a Neutral rating due to revised quarterly estimates. BNP Paribas (OTC:BNPQY) Exane reiterated its Neutral rating and a $14 price target, noting the potential for a rebound following strong preliminary results. Intel’s significant ownership in Mobileye remains a topic of discussion, with the recent stock transactions reflecting strategic monetization efforts.
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